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Taking over a website

Hey people, ok here is the situation im considering buying a whole site off someone at the moment the site is a web based game with about 350members which i would increase in a few months with friends on my msn (some are big spenders others just play for fun).

Anywya the thing im more interested would be the costs of running the game and what i would need to do because im new to it all. Obviously i would need a paypal account (for the site) hosting (i have) domain comes with it lol but what else would i need and is tehre any info on the net anywhere about this kind of thing?

i have a few people i believe i can trust as pt admins and mods. as for a coder i have one or two on my msn list that i dont mind paying for updates to the php and also modifitactions to the code/how it works.

what kind of info do you need that would help? obviously im not going to give away the vital info like the site, price and who i know lol

If you're doing it for financial gain, consider - why is it up for sale? Very few people would go to the trouble of building a profitable game, then selling it - unless they thought they could get more money from the sale than the game, or they needed some fast cash.

Get it clear and in writing, what exactly is included in the sale and get administration documentation before you purchase - know exactly what will be involved in running the game - then you can decide how much of your time it will take, how many mods you will need and whether its worth the hassle.
Owning a popular online game sounds fun but if it takes all your free time in admin tasks and bug fixes then the novelty will soon wear off.

Dont rely on free help from friends - if its available, thats great but dont build a business plan around it. Just because they're your friends, doesnt mean they're obligated to give you free help on this project - RL happens - you cant rely on anyone who works for free - no matter how close you are.

Also, if you are doing this for profit - ask to see at least the last 3 months accounts - 12 if they've got them. How much income the game makes every month will determine how much you can spend on staff and improving the game.

oops forgot i posted this anyway im back and i rememberd now must stop drinking so much i guess hey

Well really the site isnt for sale i just inquired about the site script to be honest and he said "I would sell the script for $500 after i removed the modifications i have made" he then went to say "i would sell the whole site" i asked why and got "due to not having enough time"

At the moment there are about 300members there mostly free players and if i did take over it i would have to throw in a alot of time to promote and get people to buy turns but thats not too much of a problem i have a whole list of people from online games on my msn lol (yes i nkow not all will buy turns but i can get 1/2 into buying a few)

As for what i would be getting with the site so far this is the package:
The site script as is
1 year hosting on his server plus help from him if needed
1 year domain (i think) would renew myself
Whatever members are already tehre obviously lol

After the year is up or even before hand tho i could move it to where i have another site due to it being cheaper, then if i get problems upgrade the account or something lol

Now for extra mods, admins etc etc i have maybe 1/2 people that would help out for abit for free then obiously i would need to some sort of an arrangement with them with either a little cash or free turns on a round that is running at the time (would leave them in there account otherwise they build and then win a round which is unfair in my oppinion and i like fair game play)

Think thats everything for now, oh yea would i need anything like a buisness account, registering for vat etc etc?